Technical analysis USDCAD for 12.09.2024

The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 1.35900. The closest resistance is the level 1.36050

Key levels

• 1.36450, 1.36217, 1.36050, 1.35900, 1.35700

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 1.36050, with Take Profit of 1.36217 and Stop Loss of 1.35900

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.35900, with Take Profit of 1.35700 and Stop Loss of 1.36050